FX.co ★ Natural Gas (NG)

The gas market is showing bullish tendencies. Despite high production levels, cold weather has led to a significant increase in consumption, making freezing temperatures the dominant factor. Increased exports are also reducing the available gas volumes in the domestic market. Therefore, despite the presence of supply, the pace of demand growth is outpacing it, indicating a likely price increase in the near future. Currently, #NG is demonstrating an upward trend. The price is above the moving averages, consistently setting new highs, and buyers are maintaining control. The key support level is 4.900–5.00. As long as the price remains above 4.900, the bullish sentiment persists, with potential for further growth towards 5.00 and then 5.250. For the trend to shift to a downtrend, the market needs to consistently break through key support levels. The first signal will be a price drop below 4.900. Further decline and consolidation below 4.850, especially 4.800, would indicate the breakdown of the current upward structure. The final confirmation of a reversal will be a move and consolidation below 4.750, signaling a weakening of the upward momentum and a shift to a downward movement. Indicators such as RSI below 50 and MACD in the negative zone will confirm this reversal. Until these conditions are met, the upward trend remains strong, with downward corrections providing buyers with favorable entry opportunities.